HOUSE prices increased more than the average for the East of England in Maldon in December, new figures show.

The boost contributes to the longer-term trend, which has seen property prices in the area achieve 18.1 per cent annual growth.

The average Maldon house price in December was £402,487, Land Registry figures show – a 4.3 per cent increase on November.

Over the month, the picture was better than that across the East of England, where prices increased 0.4 per cent.

Maldon also outperformed the 0.8 per cent rise for the UK as a whole.

Over the last year, the average sale price of property in Maldon rose by £62,000.

This puts the area fourth among the East of England’s 45 local authorities with price data for annual growth.

Owners of detached houses saw the biggest improvement in property prices in Maldon in December – they increased 4.8 per cent, to £598,279 on average.

Over the last year, prices rose by 20.8 per cent.

First steps on the property ladder

First-time buyers in Maldon spent an average of £304,000 on their property – £45,000 more than a year ago, and £64,000 more than in December 2016.

By comparison, former owner-occupiers paid £460,000 on average in December – 51.5 per cent more than first-time buyers.

How do property prices in Maldon compare?

Buyers paid 18.6 per cent more than the average price in the East of England (£340,000) in December for a property in Maldon.

Across the East of England, property prices are higher than those across the UK, where the average cost £275,000.